Midterm Essay Questions – Examples
1. Generating new inventions may be important, but it does not guarantee rapid economic growth in the country where the invention occurs. On the other hand growth has often been successfully founded upon the effective imitation of technologies originally developed in other countries. Write a concise essay in which you distinguish between inventions and the type of technological change that contributes to total factor productivity growth.
2. The neo-classical growth model emphasizes two determinants of intensive growth (ie. growth in output per person). Write a concise essay in which you explain the operation of the neo-classical growth model and the role played by the two key determinants of growth within the model.
3. According to Williamson our standard neo-classical economic objective should lead us to study real wage convergence, rather than output per person convergence. Write a concise essay in which you describe exactly what is meant by the term “modern economic growth”, how this type of growth is linked to the standard neo-classical economic objective, and why this link leads Williamson to focus on real wages.
4. “Williamson claims that trans-Atlantic labour migration was an important “cause” of post-1860 real wage convergence. However, it is much more likely that the unprecedented movements of labour we observe during this time period were nothing more than an “effect” of the economic convergence that was underway.” Do you agree with this statement? Why or why not?
5. Based on evidence from the post-1860 Atlantic economy, stable and flexible institutions seem to help foster economic growth. Write a concise essay in which you describe, in general terms, what institutions may be important for a nation’s economic performance and why stability and flexibility are more important than any particular institutional framework.
Structuring Your Paper
• Be explicit about the topic of your paper – what question are you asking, why are you bothering to ask it, what is the answer you have come up with?
• Your paper should be an economics paper (not a history, or sociology, or philosophy paper). This means you should adopt an analytical approach to your topic that is founded on economic theory and/or empirical evidence.
• You do not necessarily need to employ theoretical techniques or statistical methods in your paper (although you may do so if you wish), but your analysis of the literature you are working with should be informed by these techniques and methods.
• A summary of the relevant literature is a good first step towards writing a good term paper, but the very best papers will also combine, compare, contrast, and/or critique the literature.
• You do not necessarily need to “choose a side”, although adopting a particular perspective may help to focus the paper and guide your analysis of the literature.
References
• The exact format of the references and citations you use is irrelevant, but you should be consistent throughout the paper and you must provide enough information for the reader to find the source, and the exact location (ie. page number) in the source for the material being used.
• You may cite material in the text, in footnotes, or in endnotes – just be consistent from start to finish.
• You may refer to material from the course reading list, but the main sources for your particular topic should be supplementary to the material covered in the class.
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